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Markets as Economizers of Information: Experimental Examination of the "Hayek Hypothesis"

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Cited by:

  1. Merl, Robert & Stöckl, Thomas & Palan, Stefan, 2023. "Insider trading regulation and shorting constraints. Evaluating the joint effects of two market interventions," Journal of Banking & Finance, Elsevier, vol. 154(C).
  2. Douglas D. Davis & Oleg Korenok, 2009. "Posted Offer Markets In Near‐Continuous Time: An Experimental Investigation," Economic Inquiry, Western Economic Association International, vol. 47(3), pages 449-466, July.
  3. Kirchler, Michael & Huber, Jurgen, 2007. "Fat tails and volatility clustering in experimental asset markets," Journal of Economic Dynamics and Control, Elsevier, vol. 31(6), pages 1844-1874, June.
  4. David Hoaas, 2000. "Mining improbable postulates and the theory of diverting toys(Advances in General Equilibrium Theory) Donald A. Walker Edward Elgar, 1997, 165 pp," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 28(1), pages 104-113, March.
  5. Al-Ubaydli, Omar & Boettke, Peter, 2010. "Markets as economizers of information: Field experimental examination of the “Hayek Hypothesis”," MPRA Paper 27660, University Library of Munich, Germany.
  6. Schmidtchen Dieter, 2004. "Recht, Eigentum und Effizienz: Zu F. A. v. Hayeks Verfassung der Freiheit," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 55(1), pages 127-152, January.
  7. Franken, Jason R.V. & Parcell, Joseph L., 2012. "Evaluation of Market Thinness for Hogs and Pork," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(4), pages 1-16, November.
  8. Thomas Stöckl, 2013. "Price efficiency and trading behavior in limit order markets with competing insiders," Working Papers 2013-11, Faculty of Economics and Statistics, Universität Innsbruck.
  9. M. Remzi Sanver, 2022. "Well-designed incentive schemes: introduction to the special issue in honor of Semih Koray," Review of Economic Design, Springer;Society for Economic Design, vol. 26(3), pages 247-254, September.
  10. Nelson, Jon P., 1995. "Market structure and incomplete information: Price formation in a real-world repeated English auction," Journal of Economic Behavior & Organization, Elsevier, vol. 27(3), pages 421-437, August.
  11. Miller, Ross M., 2008. "Don't let your robots grow up to be traders: Artificial intelligence, human intelligence, and asset-market bubbles," Journal of Economic Behavior & Organization, Elsevier, vol. 68(1), pages 153-166, October.
  12. Klaus Abbink & Jordi Brandts, 2005. "Collusion in Growing and Shrinking Markets: Empirical Evidence from Experimental Duopolies," Working Papers 168, Barcelona School of Economics.
  13. Klaus Abbink & Jordi Brandts, 2005. "Collusion in Growing and Shrinking Markets: Empirical Evidence from Experimental Duopolies," UFAE and IAE Working Papers 648.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  14. Davis, Douglas D. & Williams, Arlington W., 1997. "The effects of nonstationarities on performance in call markets," Journal of Economic Behavior & Organization, Elsevier, vol. 32(1), pages 39-54, January.
  15. Shu-Heng Chen & Ragupathy Venkatachalam, 2017. "Information aggregation and computational intelligence," Evolutionary and Institutional Economics Review, Springer, vol. 14(1), pages 231-252, June.
  16. Kirstein Roland & Schmidtchen Dieter, 2002. "Eigennutz als Triebfeder des Wohlstands - die invisible hand im Hörsaal-Experiment sichtbar gemacht," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 53(1), pages 227-240, January.
  17. Mayhew, Brian W. & Vitalis, Adam, 2014. "Myopic loss aversion and market experience," Journal of Economic Behavior & Organization, Elsevier, vol. 97(C), pages 113-125.
  18. Fredrik Carlsson & Haoran He & Peter Martinsson, 2013. "Easy come, easy go," Experimental Economics, Springer;Economic Science Association, vol. 16(2), pages 190-207, June.
  19. Foders, Federico, 1985. "Firm behaviour under alternative bidding systems for US OCS hydrocarbon leases," Kiel Working Papers 223, Kiel Institute for the World Economy (IfW Kiel).
  20. Darcy K. Fudge Kamal & Florence Honoré & Cristina Nistor, 2021. "When the weak are mighty: A two‐sided matching approach to alliance performance," Strategic Management Journal, Wiley Blackwell, vol. 42(5), pages 917-940, May.
  21. Brian Albrecht & Omar Al-Ubaydli & Peter Boettke, 2022. "Testing the Hayek hypothesis: Recent theoretical and experimental evidence," Artefactual Field Experiments 00759, The Field Experiments Website.
  22. César Martinelli & Jianxin Wang & Weiwei Zheng, 2023. "Competition with indivisibilities and few traders," Experimental Economics, Springer;Economic Science Association, vol. 26(1), pages 78-106, March.
  23. Andreas Karathanasopoulos, 2017. "Modelling and trading the London, New York and Frankfurt stock exchanges with a new gene expression programming trader tool," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 24(1), pages 3-11, January.
  24. Innocenti, Alessandro, 2010. "How a psychologist informed economics: The case of Sidney Siegel," Journal of Economic Psychology, Elsevier, vol. 31(3), pages 421-434, June.
  25. Melesse, Mequanint B. & Cecchi, Francesco, 2017. "Does Market Experience Attenuate Risk Aversion? Evidence from Landed Farm Households in Ethiopia," World Development, Elsevier, vol. 98(C), pages 447-466.
  26. Roos, Michael W. M. & Luhan, Wolfgang J., 2008. "As if or What? – Expectations and Optimization in a Simple Macroeconomic Environment," Ruhr Economic Papers 55, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
  27. Roland Kirstein & Dieter Schmidtchen, "undated". "Self-interest, Social Wealth, and Competition as a Discovery Procedure," German Working Papers in Law and Economics 2004-1-1083, Berkeley Electronic Press.
  28. James C. Cox & Vjollca Sadiraj, 2018. "Incentives," Experimental Economics Center Working Paper Series 2018-01, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
  29. Schmidtchen, Dieter, 2004. "Recht, Eigentum und Effizienz: Zu F. A. v. Hayeks Verfassung der Freiheit," CSLE Discussion Paper Series 2004-07, Saarland University, CSLE - Center for the Study of Law and Economics.
  30. Olga A. Rud & Jean Paul Rabanal, 2018. "Evolution of markets: a simulation with centralized, decentralized and posted offer formats," Journal of Evolutionary Economics, Springer, vol. 28(3), pages 667-689, August.
  31. Konstantinos Georgalos & John Hey, 2020. "Testing for the emergence of spontaneous order," Experimental Economics, Springer;Economic Science Association, vol. 23(3), pages 912-932, September.
  32. Manahov, Viktor & Hudson, Robert & Hoque, Hafiz, 2015. "Return predictability and the ‘wisdom of crowds’: Genetic Programming trading algorithms, the Marginal Trader Hypothesis and the Hayek Hypothesis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 37(C), pages 85-98.
  33. Douglas Davis & Oleg Korenok & Robert Reilly, 2009. "Re-matching, information and sequencing effects in posted offer markets," Experimental Economics, Springer;Economic Science Association, vol. 12(1), pages 65-86, March.
  34. Bart J. Wilson, 2017. "How We Think about Economics," Southern Economic Journal, John Wiley & Sons, vol. 83(3), pages 655-657, January.
  35. Guido Imbens, 2014. "Instrumental Variables: An Econometrician's Perspective," NBER Working Papers 19983, National Bureau of Economic Research, Inc.
  36. Dieter Schmidtchen & Roland Kirstein, "undated". "Wettbewerb als Entdeckungsverfahren," German Working Papers in Law and Economics 2001-default/2001/1-1016, Berkeley Electronic Press.
  37. Stephen V. Burks & Daniele Nosenzo & Jon Anderson & Matthew Bombyk & Derek Ganzhorn & Lorenz Goette & Aldo Rustichini, 2015. "Lab Measures of Other-Regarding Preferences Can Predict Some Related on-the-Job Behavior: Evidence from a Large Scale Field Experiment," Discussion Papers 2015-21, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  38. Kirstein, Roland & Schmidtchen, Dieter, 2003. "Self-interest, Social Wealth, and Competition as a Discovery Procedure : A classroom experiment that makes the "invisible hand" visible," CSLE Discussion Paper Series 2003-08, Saarland University, CSLE - Center for the Study of Law and Economics.
  39. Frédéric Basso & Laurent Guillou & Olivier Oullier, 2010. "Embodied Entrepreneurship: A Sensory Theory of Value," Chapters, in: Angela A. Stanton & Mellani Day & Isabell M. Welpe (ed.), Neuroeconomics and the Firm, chapter 12, Edward Elgar Publishing.
  40. Solimine, Philip & Isaac, R. Mark, 2023. "Reputation and market structure in experimental platforms," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 528-559.
  41. Thomas Stöckl & Jürgen Huber & Michael Kirchler, 2015. "Multi-period experimental asset markets with distinct fundamental value regimes," Experimental Economics, Springer;Economic Science Association, vol. 18(2), pages 314-334, June.
  42. Huber, Christoph & Kirchler, Michael, 2023. "Experiments in finance: A survey of historical trends," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
  43. Linda Goldberg & Rafael Tenorio, 1995. "Strategic Trading in a Two-Sided Foreign Exchange Auction," NBER Working Papers 5187, National Bureau of Economic Research, Inc.
  44. Thomas Stöckl, 2014. "Price efficiency and trading behavior in limit order markets with competing insiders," Experimental Economics, Springer;Economic Science Association, vol. 17(2), pages 314-334, June.
  45. Frey, Bruno S. & Kucher, Marcel, 2000. "History as Reflected in Capital Markets: The Case of World War II," The Journal of Economic History, Cambridge University Press, vol. 60(2), pages 468-496, June.
  46. Michael W.M. Roos & Wolfgang J. Luhan, 2008. "As if or What? – Expectations and Optimization in a Simple Macroeconomic Environment," Ruhr Economic Papers 0055, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  47. Schmidtchen Dieter, 2006. "Wettbewerbsschutz durch regelgeleitete Wettbewerbspolitik – Anmerkungen zum institutionenökonomisch-evolutionären Wettbewerbsleitbild / Protecting competition by a rule governed policy – Remarks on th," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 57(1), pages 165-189, January.
  48. repec:zbw:rwirep:0055 is not listed on IDEAS
  49. Chen, Shu-Heng, 2012. "Varieties of agents in agent-based computational economics: A historical and an interdisciplinary perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 36(1), pages 1-25.
  50. Reade, J. James & Vaughan Williams, Leighton, 2019. "Polls to probabilities: Comparing prediction markets and opinion polls," International Journal of Forecasting, Elsevier, vol. 35(1), pages 336-350.
  51. Jürgen Huber & Michael Kirchler & Matthias Sutter, 2006. "Vom Nutzen zusätzlicher Information auf Märkten mit unterschiedlich informierten Händlern — Eine experimentelle Studie," Schmalenbach Journal of Business Research, Springer, vol. 58(2), pages 188-211, March.
  52. Carl Plat, 2005. "A Double Auction Market with Signals of Varying Precision," Experimental 0508004, University Library of Munich, Germany.
  53. Franck Galtier & François Bousquet & Martine Antona & Pierre Bommel, 2012. "Markets as communication systems," Journal of Evolutionary Economics, Springer, vol. 22(1), pages 161-201, January.
  54. Schmidtchen, Dieter, 2006. "Wettbewerbsschutz durch regelgeleitete Wettbewerbspolitik: Anmerkungen zum institutionenökonomisch-evolutionären Wettbewerbsleitbild," CSLE Discussion Paper Series 2006-10, Saarland University, CSLE - Center for the Study of Law and Economics.
  55. Kimbrough, Erik O. & Smyth, Andrew, 2018. "Testing the boundaries of the double auction: The effects of complete information and market power," Journal of Economic Behavior & Organization, Elsevier, vol. 150(C), pages 372-396.
  56. Jean Paul Rabanal & Olga A. Rabanal, 2015. "A Simulation on the Evolution of Markets: Call Market, Decentralized and Posted Offer," Working Papers 34, Peruvian Economic Association.
  57. D.J. Butler, 1990. "Experimental Techniques in Economics: Some lessons to date," Economics Discussion / Working Papers 90-22, The University of Western Australia, Department of Economics.
  58. Wilfred Amaldoss & Sanjay Jain, 2002. "An Analysis of the Impact of Social Factors on Purchase Behavior," Review of Marketing Science Working Papers 2-1-1021, Berkeley Electronic Press.
  59. Arango, Santiago & Moxnes, Erling, 2012. "Commodity cycles, a function of market complexity? Extending the cobweb experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 321-334.
  60. Andreas Heusler & Dominik Molitor & Martin Spann, 2019. "How Knowledge Stock Exchanges can increase student success in Massive Open Online Courses," PLOS ONE, Public Library of Science, vol. 14(9), pages 1-17, September.
  61. Stefan Palan & Thomas Stöckl, 2014. "When chasing the offender hurts the victim: Collateral damage from insider legislation," Working Paper Series, Social and Economic Sciences 2014-03, Faculty of Social and Economic Sciences, Karl-Franzens-University Graz.
  62. Bruno S. Frey & Marcel Kucher, 1999. "Wars and Markets: How Bond Values Reflect World War II," CESifo Working Paper Series 221, CESifo.
  63. Banzhaf, H. Spencer, 2016. "Constructing markets: environmental economics and the contingent valuation controversy," MPRA Paper 78814, University Library of Munich, Germany.
  64. Manahov, Viktor & Urquhart, Andrew, 2021. "The efficiency of Bitcoin: A strongly typed genetic programming approach to smart electronic Bitcoin markets," International Review of Financial Analysis, Elsevier, vol. 73(C).
  65. Connor, Jeffery D. & Ward, John & Clifton, Craig & Proctor, Wendy & Hatton MacDonald, Darla, 2008. "Designing, testing and implementing a trial dryland salinity credit trade scheme," Ecological Economics, Elsevier, vol. 67(4), pages 574-588, November.
  66. Wilfred Amaldoss & Sanjay Jain, 2002. "David vs. Goliath: An Analysis of Asymmetric Mixed-Strategy Games and Experimental Evidence," Management Science, INFORMS, vol. 48(8), pages 972-991, August.
  67. Ross M. Miller, 2012. "The Effect Of Boundary Conditions On Efficiency And Pricing In Double‐Auction Markets With Zero‐Intelligence Agents," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 19(3), pages 179-188, July.
  68. Charles A. Holt, 2003. "Economic Science: An Experimental Approach for Teaching and Research," Southern Economic Journal, John Wiley & Sons, vol. 69(4), pages 754-771, April.
  69. Huber, Jurgen, 2007. "`J'-shaped returns to timing advantage in access to information - Experimental evidence and a tentative explanation," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2536-2572, August.
  70. Ward, John & Tisdell, John G. & Whitten, Stuart M., 2006. "Experimentally Testing Institutions And Policy Instruments To Coordinate Groundwater Recharge in the Coleambally Irrigation Area," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139923, Australian Agricultural and Resource Economics Society.
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